National Credit Union Administration Board v. Wachovia Capital Markets, LLC

Filing 29

MEMORANDUM AND ORDER granting 20 Motion to Consolidate Cases. Case No. 11-2649-JAR is consolidated with Case No. 11-2340-RDR-KGS, and that Case No. 11-2340-RDR-KGS shall be designated the lead case. Magistrate Judge K. Gary Sebelius shall be assigned the presiding Magistrate Judge for this consolidated action. Signed by District Judge Julie A. Robinson on 6/1/2012. (pp)

IN THE UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF KANSAS

NATIONAL CREDIT UNION
ADMINISTRATION BOARD,
Plaintiff,
v.
WACHOVIA CAPITAL MARKETS, LLC,
Defendant.
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No. 11-2649-JAR-KGS

MEMORANDUM AND ORDER GRANTING MOTION TO CONSOLIDATE
Plaintiff National Credit Union Administration Board (“NCUAB”) brings this action
against Defendant Wachovia Capital Markets, LLC, alleging violations under Sections 11 and
12(a) of the 1933 Securities Act and under the Kansas Uniform Securities Act for alleged
misstatements in certain offering documents. Plaintiff previously filed a substantially similar
complaint in the case National Credit Union Administration Board v. RBS Securities, Inc., et al.,
No. 11-2340-RDR-KGS. In the instant case, Defendant is the underwriter of certain residential
mortgage backed securities at issue in the first case. Defendants in both cases have pending
motions to dismiss raising common issues, including whether NCUAB’s claims are barred by the
statute of repose and the statute of limitations.
This matter is now before the Court on Defendant’s Motion to Consolidate for Purposes
of Pretrial Proceedings and Trial (Doc. 20). Pursuant to Fed. R. Civ. P. 42(a), the Court may
consolidate actions that involve a common question of law or fact. The decision to consolidate
is left to the discretion of the district judge.1 It is clear to this Court that these cases contain

1

See Shump v. Balka, 574 F.2d 1341, 1344 (10th Cir. 1978).

common questions of fact and law and that consolidation would serve the interest of judicial
efficiency.2
IT IS THEREFORE ORDERED BY THE COURT that Defendant’s Motion to
Consolidate (Doc. 20) is GRANTED; Case No. 11-2649-JAR is consolidated with Case No. 112340-RDR-KGS, and that Case No. 11-2340-RDR-KGS shall be designated the lead case.
Magistrate Judge K. Gary Sebelius shall be assigned the presiding Magistrate Judge for this
consolidated action.
IT IS SO ORDERED.
Dated: June 1, 2012
S/ Julie A. Robinson
JULIE A. ROBINSON
UNITED STATES DISTRICT JUDGE

2

See McCoy v. Whirlpool Corp., No. 02-2064-KHV, 2003 WL 124531, at *2 (D. Kan. Jan. 12, 2003) (“In
exercising discretion, the court should consider whether judicial efficiency is best served by consolidation.”).

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